Morgan Stanley: Fed pause does not end rate hikes
- —Gapen expects two dissents versus three at the July hold
- —Markets already price a pause and lean toward a December hike
- —The economy can absorb 75–100 bps of tightening, Gapen says
- —The statement's tone matters more than the decision for bitcoin
Why it matters: A hawkish Fed message would add pressure on bitcoin and other rate-sensitive risk assets.
Source: BeInCrypto TR